DEFINE GAS AND OIL LEASE
House Bill 4508
Sponsor: Rep. Larry DeVuyst
Committee: Conservation and Outdoor Recreation
Complete to 5-29-01
A SUMMARY OF HOUSE BILL 4508 AS INTRODUCED 3-22-01
House Bill 4508 would amend Part 615 of the Natural Resources and Environmental Protection Act (NREPA), which regulates oil and gas wells, to provide a definition for "lease." Under the bill, "lease" would mean a written agreement between the owner, as lessor, and one or more other persons, as lessee, to mutually benefit each party through the exploration, development, and continuous operation of the leasehold as a productive parcel. The bill would also amend the current definition of "surface waste." The bill would define the term as it refers to the oil and gas business, rather than just the oil business.
_____________________________________________________________________________________________________________________
This analysis was prepared by nonpartisan House staff for use by House members in their deliberations, and does not constitute an official statement of legislative intent.